so are you considering investing with the new Robin Hood app well in this video I'm going to go over the pros and cons of Robin Hood who I think this app is best designed for and my overall experience using Robin Hood so far hey guys this is Eric of immersive reviews and on this channel I review different apps gadgets software and other online learning courses at any point feel free to check out the show notes in the description box below I always include a recap of all the points I covered in the video as well as any other points I forgot to mention I'll also put down the links on where you can find uh Robin Hood in both the Android and iOS platform so the first thing you'll notice about the Robin Hood app is it's completely mobile based platform all the investing is done on the mobile app itself there's no desktop application and it comes in both forms for IOS and Android now I think that's pretty neat overall because it's really good for investing on the go a lot of broker just do have mobile apps but this one is a really seamless design the uh interface is really user friendly and it's great for beginners to invest in which I am myself now now one of the major draws to Robin Hood is that it's Z commissions completely free to trade to buy and to sell no cost completely free trading now when you compare this to larger brokerages such as ER tray tdit tray Charles Schwab sometimes the commissions can cost upwards of $10 per trade that means $10 to buy and $10 to sell and while $10 might might not sound like a lot over time that really does add up and will eat into your profits another great thing about the Robin Hood investing platform is there's no minimum to get started you you can start with as little as $1 if you find a stock that low but most of the times most stocks are going to be in the range of $20 to $100 around that range so you really don't need a large amount to get started if you invest in a common mutual fund at a larger brokerage you may need upwards of 1,000 to 3,000 to even Beyond $10,000 just to get started in that fund the great thing about Robin Hood is you can invest in individual stocks and ETFs which are basket of stocks and you don't need any minimum to get started investing so it's great to get your feet in the water now one of the cons of Robin Hood is probably the lack of research built into the app for example because it's a free platform to trade on there's not as much built-in research as there is at larger brokerages that charge such as E Trade and Charles Schwab for example when you're inside the app itself you Bas looking at a particular stock basically the only information you have are line charts which show you the um the price change over the course of one day one week 1 month 3 months one year and even 5 years underneath that you have some recent news it's always updated with recent news on that particular company and then other further information such as the 52- we high and low today's high today's low the dividend the price expense ratio the market cap and more and then on the bottom of each stock or ETF there's also a brief explanation of the company itself but again that's not necessarily such a bad thing because of the lack of information built within this app it keeps it very clean and simple there's not a lot of clutter instead I recommend using some thirdparty apps to do your research on stocks you might be interested in investing in a couple I recommend are Yahoo finance CNBC and Morning Star they're really great options to to learning about stocks and companies now some people might be asking is Robin Hood a scam because of its relatively young age it's only run around for about 2 years which is a lot younger than a lot of other brokerages but again it is sipc insured for up to $500,000 so it is insured and recently I made a withdraw myself from the app and I got my money back to my bank in about two business days so I haven't had any bad experiences I haven't seen any bad experiences of people that have been scammed by the app so I think it's pretty safe to say it's a pretty reliable and trusty app now if you're like me and are completely new to investing I'm going to recommend a book that's really helping me out it's this book right here it's called the neatest little guide to stock market investing it's by the author Jason Kelly I really like this book it's really helped me as a complete newbie to investing about understanding the different terminology about stocks and the stock market and it really helped me identify when's a good time to buy in a stock when's a good time to sell how to identify winning stocks versus losing stocks and overall psychology on how to embrace the stock market if you'd like to check it out I'll put the link down below you can check out the availability of the book as well as maybe read some other reviews on the book itself so pretty much when it comes down to it I'm going to give the Robin Hood app a solid eight out of 10 again you get all the functionality you need to invest in the stock market whether you're a new or Advanced Trader and you don't have to pay the excess commissions of $10 to buy and sell so I think it's a really great option anyways guys if you enjoyed this video please give it a like thumbs up I post new videos weekly on different apps softwares gadgets and other online learning courses so feel free to subscribe for more and again if you have any comments feel free to leave them down below on Robin Hood and I'll do my best to answer them thanks for watching and I'll see you next time